Daily Management Review

Abe to sign trade agreement with EU at G20 meeting


07/04/2017


On Thursday, The European Union and Japan are expected to sign a free trade agreement to protect themselves from the emerging policy of protectionism in the US under President Donald Trump, Reuters reports.



Cimmerian praetor
Cimmerian praetor
Confirming on Tuesday that Japanese Prime Minister Shinzo Abe will meet with heads of EU institutions in Brussels on the eve of the G20 summit with Trump and other world leaders in Germany, the European Council stated: "The leaders must announce a political agreement to sign a free trade agreement between the EU and Japan ".

This step will bring the parties closer to a final agreement that will determine all the commercial niceties between the two largest economies of the world. Both sides, seeing that Trump has stepped back from free trade relations, are eager to show that they are still committed to removing barriers that, they say, are hampering growth.

"It is important for us to wave the flag of free trade in response to global steps towards protectionism, quickly entering into a free trade agreement with Europe," Abe told the ministers at a meeting on talks with the EU.

"This agreement is also important for our growth strategy; with all our energy, we will be negotiating to the very end to reach the best solution for Japan."

Abe will meet with the head of the European Council Donald Tusk, who will speak for 28 EU leaders, as well as European Commission President Jean-Claude Juncker, the executive head of the bloc.

Trade Commissioner Cecilia Malmström was in Japan over the weekend and said after the talks that she was "quite sure" that a broad agreement could be announced on Thursday. EU officials said Abe will visit Brussels only if both sides are confident that a political agreement will be signed.

As Malmström said, it is possible to create good, fair, transparent and stable trade relations from which both sides win, and not as in the case of the United States, when only the American side wins.

source: reuters.com






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